Please, not answered with the same person ABC Company obtained a patent in January 2019, at a cost of $ 200.000 Estimated useful life 8 year. The company incurred additional costs related to this patent in January 2020, amounting to $ 20.000 At the end of 2021 there was an economic downturn due to the pandemic, and a test for impairment of the fair value of in assets was carried out according to an independent appraiser, the recoverable value of the patent is $ 24,000. Instructions: Make journals at the end of 2019 to 2021
Please, not answered with the same person ABC Company obtained a patent in January 2019, at a cost of $ 200.000 Estimated useful life 8 year. The company incurred additional costs related to this patent in January 2020, amounting to $ 20.000 At the end of 2021 there was an economic downturn due to the pandemic, and a test for impairment of the fair value of in assets was carried out according to an independent appraiser, the recoverable value of the patent is $ 24,000. Instructions: Make journals at the end of 2019 to 2021
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter22: Accounting For Changes And Errors.
Section: Chapter Questions
Problem 5MC: During 2019, White Company determined that machinery previously depreciated over a 7-year life had a...
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Please, not answered with the same person
ABC Company obtained a patent in January 2019, at a cost of $ 200.000 Estimated useful life 8 year. The company incurred additional costs related to this patent in January 2020, amounting to $ 20.000 At the end of 2021 there was an economic downturn due to the pandemic, and a test for impairment of the fair value of in assets was carried out according to an independent appraiser, the recoverable value of the patent is $ 24,000.
Instructions:
Make journals at the end of 2019 to 2021
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